Archive for November 9th, 2005

The verbosity hit the Fox: Chavez creates crisis with Mexico

November 9, 2005

Tonight as described blow by blow
by Daniel, who happened to be blogging live Chavez’ “cadena”
(Nationwide obligatory TV and radio transmission) , Hugo Chavez had less than kind words for Mexican President Vicente Fox, telling him among other things:

–“It saddens me to see you give yourself up like that to the US”
–“The Mexican President left bleeding thrugh his wounds”
–“How can the President of such brave people become a puppy of the empire”

Curious how Chavez’ words were posted immediately
in the MINCI site, suggesting this was not as improvised as it may
seem at first sight. You could say that Chavez’ verbal diarrea hit the Fox, as the
Mexican Foreign Minister took only minutes to call the Venezuelan Ambassador tot “explain”o his Government the statements by President Chavez against President Fox.

This will likely create a crisis between the two countries, which will
not be as easy for Chavez to get out of as others in the past. Only
last week he had a bitter exchange with Peruvian President Toledo who
told Chavez not tyo try to teach him about economics, because he was an
economist himslef and not to try to teach him about poverty, because he
grew up poor too. As usual, our President knows how to destroy for the
sake of destroying, in this case relations with the most important
Latin American economy and one of the most important Venezuelan tarding

Note added: To add insult to injury the Venezuelan Foreign Ministry today justified
Chavez’s insults against President Fox, saying that Fox was very
agressive against Chavez in Mar del Plata. Of course, Fox never
mentioned Chavez directly when he criticized the anti-Free Trade treaty
Group, but Chavez simply insulted Fox directly. This looks like the first chapter in
what could be a long and unnecessary fight!

More on the strange case of the structured notes which prove corruption is at the higehts levels ever

November 9, 2005

A few days ago I wrote about the strange
case of the structured notes
which remarkably has received little attention
from the local press, but today Tal Cual Editor Teodoro Petkoff tells the same
story I did, which I will not repeat. He estimates the profit in the “transaction” at
only some US$ 120 million. It is worth translating the last part of this
article with his conclusion about this strange transaction, which to me simply proves
the depth of corruption, putrefaction and dishonesty at the highest levels of this
“revolutionary” Government and at the highest levels in this country’s history.

What is the excuse this time? That Chavez does not know
about it? If he did, he should be impeached for corruption, if he didn’t, he is
too incompetent to be President. But we know that! Here are Petkoff’s conclusions :

without an auction, without the needed advertising, in
a fingercratic transaction, the Minister of Finance, The National
Treasury (the
Head of which, coincidentally is the wife of the Minister of Defense)
and the
Director of Public Credit held the sale of bonds for US$662 million,
leaving in
the air a number of questions about which neither Clodosbaldo (the
nor Isaias (the Prosecutor General so keen on political cases involving
his enemies) have done anything about it: How were the buyers selected?
Who were
they? Why some and not others? What was the method used to establish
the price?
Who pocketed the difference?

In any case, within the regime of Exchange controls, some
financial institutions received securities for US$ 662 million, that happily
left the country singing along, for them, there was no prohibition to leave the